Photo credit: PCO

In a diplomatic meeting at Malacanang, German Foreign Minister Annalena Baerbock expressed a strong commitment to addressing climate change and contributing to the loss and damage fund in cooperation with the Philippines. The meeting, attended by President Ferdinand R. Marcos Jr., highlighted the shared dedication to mitigating the impacts of climate change.

Baerbock emphasized the significance of the loss and damage fund, stating, "This is really dear to my heart because I was doing a lot of policy beforehand. We said we have to do something about loss and damage." The German Foreign Minister acknowledged the potential for enhanced bilateral relations through collaborative efforts in combating climate change.

The conversation also touched upon the interest of prominent German companies in investing in the Philippine renewable energy sector. Baerbock indicated that discussions would involve crucial aspects such as raw materials and skilled labor, describing the collaboration as a "win-win situation or even a triple win situation for employees, for workers, also for our countries."

President Marcos expressed gratitude for Germany's vital role in addressing climate change, noting the country's contribution in introducing essential technologies beneficial to the Philippines. The meeting highlighted the shared commitment to environmental sustainability and the exchange of knowledge and resources.

In a statement last month, the Philippines' Environment Secretary Maria Antonia Yulo-Loyzaga underscored the nation's focus on advocating for the addressing of biodiversity destruction and species loss. As a member of the "Loss and Damage" Board, the Philippines is positioned to champion the cause in climate-change vulnerable countries.

As of December, pledges for the Loss and Damage Fund surpassed expectations, totaling US$792 million, exceeding the initial projection of US$200 million.